Market overview:

Sodium Sulfur Battery Market has been valued US$ 60.44 million in the year 2021 and it is estimated to reach US$ 124.25 million by the year 2027, with a CAGR of 14.1% from 2022 to 2027. Sodium Sulfur Battery is a high-temperature battery. It operates at 300°C and utilises a solid electrolyte, making it unique among the common secondary cells. One electrode is molten sodium and the other molten sulphur, and it is the reaction between these two that is the basis for the cell reaction; these are the main factors that have considerably increased the demand for the Sodium Sulfur Battery in the market, thereby driving the huge growth of the Sodium Sulfur Battery market in the upcoming years

Market Drivers and Restrains:

The main factors that have considerably increased the demand for the Sodium Sulfur Battery in the market is mainly due to the Growing demand for energy storage and power using sodium sulfur (NaS) batteries across the globe is projected to boost the growth of the market during the projected timeframe. Besides, as sodium sulfur batteries are smaller in size, they are more appropriate for areas where other energy storage choices are not viable. Sodium sulfur batteries allow deferral of transmission up-gradation as the power does not have to be transmitted directly after generation, hence it can also be discharged on demand. Moreover, sodium sulfur batteries are used for the steadying of emergency power supply and power supply for micro/off-grid and industrial customers. However, the adoption rate is a little low owing to the presence of alternative battery technologies, including Li-ion; these are the main factors that have considerably increased the demand for the Sodium Sulfur Battery in the market, thereby driving the huge growth of the Sodium Sulfur Battery market in the upcoming years

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Report is segmented as:

Sodium Sulfur Battery Market is segmented on the basis of by:

By Power Rating (Up to 100 MW, 11-25 MW, and 25-30 MW),

By Application (Grid and Standalone Systems, Space, Renewable Energy Stabilization, and Transport and Heavy Machines)

Geographical Segmentation:

Sodium Sulfur Battery Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in the Sodium Sulfur Battery is due to the rise to regular servicing of the batteries as well as individual cell inspection so as to guarantee better operation for a longer period of time these are the main factors that have considerably increased the demand for the Sodium Sulfur Battery in the North America, followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Sodium Sulfur Battery Market

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Impact of COVID-19 on Market

Covid-19 pandemic has impacted the growth of the Sodium Sulfur Battery market, The COVID-19 has started in the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected Sodium Sulfur Battery market. Covid-19 pandemic has impacted huge on the sales revenue of Sodium Sulfur Battery market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Sodium Sulfur Battery market growth

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